Antoine Lissowski
Our corporate purpose has never been as relevant
CNP Assurances’ performance is gaining traction. Which three key figures for 2018 would you single out ?
The 6.4% increase in our attributable net profit to 1,367 million euros reflects the steady improvement in the profitability of our business. The latest increase in the dividend to 0.89 euros per share illustrates our strategy of creating value for our investors. The growth in our EBIT of 9.1% like-for-like over the 2016-2018 period was ahead of our guidance. There are two other indicators of which we are very proud - the 10 billion euros in green investments we made and our score of 99/100 on the gender equality index - as they demonstrate our core values as a public-sector operator.
How is CNP Assurances’ longstanding multi-partnership model performing ?
It’s moving full steam ahead - on every continent where we have a presence. Our two major partnerships with La Banque Postale and the BPCE Group provide a quantitative and qualitative framework for our developments in France, and our 30 wealth management partnerships are going from strength to strength. The CNP Santander partnership now extends to the Netherlands and Belgium, lifting the total number of European countries it covers to 12. The recently renewed partnership with UniCredit in Italy has got off to a flying start. In Brazil, the outstanding success of our partnership with Caixa Econômica Federal, dating back to 2001, has been a major factor in discussions about an extension. In an age of digital technology and disintermediation, CNP Assurances’ multi-partnership model makes it agile and nimble.
Talking of CNP Assurances’ digital transformation, what’s the latest on that ?
It’s firmly embedded in our operations and our processes and guides how we approach our business. We use new tools that make our partners’ lives easier and help to boost their performance. We are taking a wealth of initiatives to simplify customer pathways throughout the life of a policy. Our employees think in terms of UX, are conversant with data science, test their designs on customers and innovate alongside startups. Joint decision-making has become a central tenet of CNP Assurances’ working methods.
Everything is changing more rapidly - our lives, our ways of doing things, our risk factors, and so on. How can you keep pace with insurance needs and maintain trust ?
Our operations on two very different continents provide insights into the latest societal trends at work. Europeans are looking to protect their income for the long haul – hence the importance of long-term savings – and to make up for the reduced coverage of healthcare expenses by increasing their personal risk/protection cover. In France, the PACTE law has shaken up pension and employee savings, so we have overhauled our solutions, and we are bringing our considerable expertise to bear in the debate on long-term care. Buoyed by economic growth, many Brazilians are gaining access to protection thanks to the latest technologies and ways of doing things. That’s how we are remodelling insurance for the future: it will be digital, affinity-based, simple and effective.
What strengths can CNP Assurances rely on to help it deal with this ongoing transformation and fierce competition ?
Our business expertise combined with our ability to offer the new forms of agile insurance put CNP Assurances at the forefront of the sector. Our multi-partnership model and international dimension help to maintain a balanced range of products and keep our results on an even keel. The power of the CNP Assurances name, with its rich 160-year history and values perfectly attuned to contemporary concerns, is a precious asset. And most crucially, CNP Assurances’ collaborative mindset means the best is yet to come.
“Our major shareholders have restated their commitment to CNP Assurances’ multi-partnership and international model.”Antoine Lissowski,
Chief Executive Officer